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Second-hand fashion is becoming an increasingly important factor in the clothing sector, but is creating winners rather than losers among Europe's biggest clothing retailers, according to RBC Capital Markets, as younger shoppers increasingly buy clothes with an eye on what they might be worth later. The global second-hand apparel market has doubled in size over the past five years to account for around 10% of…

The broker came away from its retail conference more upbeat on consumer trends and the outlook for input and labour costs. RBC Capital Markets has flagged a strong chance of consensus earnings upgrades for Next PLC (LSE:NXT) and Inditex, after hosting a European consumer and retailing conference in London last week.

Santander has overtaken fashion giant Inditex to become Spain's most valuable listed ​company for the first time in ‌eight years, lifted by a recent rally in banking shares.